Ike Ugbo was widely expected to leave Sheffield Wednesday on deadline day but did not complete a loan move to an unnamed League One club. The club decided to sign another striker just before the deadline.

Sheffield Wednesday are reportedly exploring loaning out striker Ike Ugbo. Options in the MLS and Canada are being explored, according to a report in The Star; the article notes that Ugbo has played internationally in Canada. Patrick McKenna, a Sheffield Wednesday fan pundit, stated that it would be best for both parties if the club can get Ugbo out on loan in January and remove some of his wages from their payroll. Ugbo's permanent signing reportedly cost Sheffield Wednesday around £2.5 million, and Capology estimates his current wages to be £20,000-per-week.

Sheffield Wednesday could face difficulty offloading Canadian international striker Ike Ugbo due to continued financial hardship at Hillsborough and the player's performance since he joined the club on 08/08/2024. The centre-forward has not scored or assisted in 18 Championship appearances this season. The Hillsborough club may seek to offload Ugbo. Football League World's Wednesday fan pundit, Patrick McKenna, stated that he does not believe the club has the luxury of offloading Ugbo in January, and consequently, he does not think they will have the chance to do so until the summer. McKenna added that the club must realize they will not receive a transfer fee comparable to what they originally paid for him. He also expressed the view that when they are able to offload the player, hopefully in the summer, they should accept the financial loss. McKenna believes this is a better option than continuing to pay a wage that he feels the player does not justify. According to Capology, Ugbo's contract at Wednesday expires in 2028. Ugbo is 27 years old and has 9 caps for Canada. His current Transfermarkt market value is €2.00m.